Old Second Bancorp (NASDAQ:OSBC) Sets New 52-Week High – Here’s What Happened

Old Second Bancorp, Inc. (NASDAQ:OSBC) shares hit a new 52-week high on Thursday . The stock traded as high as $21.09 and last traded at $21.04, with a volume of 123693 shares. The stock had previously closed at $20.46.

Analysts Set New Price Targets

OSBC has been the topic of a number of recent research reports. Wall Street Zen raised Old Second Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, October 25th. Keefe, Bruyette & Woods increased their price target on Old Second Bancorp from $22.00 to $23.00 and gave the company an “outperform” rating in a research report on Friday, October 24th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Old Second Bancorp in a research report on Wednesday, October 8th. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $21.63.

Old Second Bancorp Price Performance

The stock has a market capitalization of $1.10 billion, a price-to-earnings ratio of 13.88 and a beta of 0.82. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.12. The stock has a fifty day moving average of $19.45 and a 200-day moving average of $18.47.

Old Second Bancorp (NASDAQ:OSBC) last issued its earnings results on Wednesday, October 22nd. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.02. Old Second Bancorp had a net margin of 18.89% and a return on equity of 12.34%. The business had revenue of $95.88 million during the quarter, compared to analysts’ expectations of $80.45 million. On average, equities research analysts predict that Old Second Bancorp, Inc. will post 1.86 EPS for the current fiscal year.

Old Second Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 10th. Investors of record on Friday, October 31st were given a $0.07 dividend. The ex-dividend date of this dividend was Friday, October 31st. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.3%. Old Second Bancorp’s dividend payout ratio is 18.54%.

Insider Buying and Selling

In other news, insider Darin Patrick Campbell sold 31,159 shares of the stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $17.89, for a total value of $557,434.51. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Old Second Bancorp

A number of institutional investors and hedge funds have recently made changes to their positions in OSBC. SG Americas Securities LLC increased its position in Old Second Bancorp by 29.1% in the 4th quarter. SG Americas Securities LLC now owns 22,521 shares of the financial services provider’s stock valued at $439,000 after acquiring an additional 5,083 shares during the period. Tudor Investment Corp ET AL purchased a new position in Old Second Bancorp in the 3rd quarter valued at $376,000. CIBC Bancorp USA Inc. acquired a new position in shares of Old Second Bancorp during the third quarter worth about $185,000. Jacobs Levy Equity Management Inc. raised its stake in shares of Old Second Bancorp by 15.3% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 17,409 shares of the financial services provider’s stock worth $301,000 after buying an additional 2,309 shares in the last quarter. Finally, PMC FIG Opportunities LLC acquired a new stake in Old Second Bancorp in the third quarter valued at $978,000. 67.76% of the stock is owned by hedge funds and other institutional investors.

About Old Second Bancorp

Old Second Bancorp, Inc is a bank holding company based in Aurora, Illinois, serving businesses and consumers through its primary subsidiary, Old Second National Bank. The company provides a broad range of commercial and retail banking services across the suburban Chicago marketplace, supported by a branch network and online platforms designed to meet the financial needs of local communities.

In its commercial banking division, Old Second offers lending solutions that include lines of credit, term loans, equipment financing and commercial real estate financing.